Evidence type: Evaluation i
Information about the programme design and rationale
Evidence about Financial Capability outcomes for programme participants
Evidence that the Financial Capability outcomes were caused by the programme
Evidence about programme implementation, feasibility, and piloting
Evidence about relative costs and benefits of the programme
Your Money Matters is the first ever financial education textbook developed within the UK. It was created by Young Money, in collaboration with approximately 80 teachers and their students. It was funded by Martin Lewis OBE (MoneySavingExpert). The textbook was written for 14-16 year olds containing relevant information, activities, summaries and case studies. The topics in the book were mapped to the Financial Education Planning Frameworks, resulting in the book having six core chapters:
In late 2018, 100 copies of the textbook, along with ten copies of the accompanying ‘Teacher’s Guide’, were delivered to every state-funded school in England (3,385 schools). Additionally, a free downloadable version of both the textbook and the Teacher’s Guide were made available for anyone to access on the Young Money website. This programme aimed to provide teachers with a standardised, free and high-quality teaching resource to support their delivery of financial education.
This 2020 evaluation from Young Money (funded by the Money and Pensions Service) aimed to evaluate the success of the student textbook and Teacher’s Guide, as well as to inform subsequent interventions in this area.
The evaluation took place from May to December 2019 and employed a mixed-methods approach. The qualitative element comprised ten focus groups conducted in five schools across England, with one teacher group and one student group in each school. The aim of the focus groups was to explore issues around the textbook as well as financial education in general, to gain a deeper understanding of the participants’ knowledge, behaviour and opinions.
The quantitative element of the evaluation comprised of two waves of online surveys with both students and teachers. Over the two waves data was collected from 335 students from 17 schools, and from 294 teachers from 280 schools. This element of the evaluation aimed to measure the percentages of participants who held particular views or demonstrated certain financial behaviours.
The report is structured around it’s five key findings:
The report gave several recommendations, including:
Judith Staig, Content Write
Young Money, Young Enterprise
Money and Pensions ServiceMoney and Pensions Service